Ghanian startup Beam has announced to shutdown its international Bitcoin remittance services, the Disrupt Africa reported.
Launched in October last year by Nikunj Handa and Falk Benke, the company was launched to address the growing inward remittance needs of Ghanian people. According to The World Bank’s latest report, a 70% of the Ghana’s population doesn’t have access to even basic banking facility, a factor that makes Bitcoin a potential contender in this territory.
But even these supportive factors have failed to impress Beam’s owners. As reported, Handa has left the business and Benke has preferred to pivot the firm into gift and bill payment services in Ghana. Both the owners, meanwhile, has shied away from explaining the true reason behind their decision to ditch Bitcoin.
“Using an international debit or credit card, you can pay for utility bills, top up airtime, send gifts or even get errands done back home in Ghana,” Benke told Disrupt Africa. “So no direct cash payouts anymore and we no longer accept bitcoin as means of payment.”
Benke, however, said that they haven’t sidelined Bitcoin entirely, as he still believes in its potential